Illinois Administrative Code
Title 50 - INSURANCE
Part 4435 - NONCOMPLIANCE NOTIFICATION AND PENALTIES
Section 4435.40 - Notification of Noncompliance

Universal Citation: 50 IL Admin Code ยง 4435.40
Current through Register Vol. 48, No. 12, March 22, 2024

The Division shall provide written notification to each pension fund, governmental unit or elected or appointed official of a governmental unit of the specific provision(s) of the Code and/or the Department's regulation(s) with which the pension fund, governmental unit or elected or appointed official of a governmental unit has failed to comply [40 ILCS 5/1A-113(d)(1) ] (see P.A. 90-507, effective August 22, 1997). Each notification shall clearly state the Code provision(s) and/or regulation Section(s) violated, the basis for the Division's determination of noncompliance, the possible penalty amount associated with the noncompliance and, if applicable, the reasonable time, as determined by Section 4435.50 of this Part, by which the pension fund, governmental unit or elected or appointed official of a governmental unit may achieve compliance after receipt of this notification.

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